Al Baraka Turk Participation Bank, which is a subsidiary banking unit of Al Baraka Banking Group B.S.C. (ABG), announced its success in concluding the largest Islamic finance deal in history of Islamic banking in Turkey worth $450m with the participation of a group of major international banks.
After the two successful deals for $240m in 2010 and $350m in 2011, Albaraka Turk has successfully concluded the year 2012 Murabaha Syndication Facility in dual currencies with a breakdown of $293.2$ and EUR124.5m for a total USD equivalent of $450m with the participation of 32 banks from 16 countries. (Press Release)